Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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HC exercised inherent powers to allow compounding of offense under Section 138 of Negotiable Instruments Act based on compromise between parties, despite conviction being upheld at appellate stage. While acknowledging that inherent powers must be used sparingly, HC determined intervention was justified to prevent miscarriage of justice and honor parties' settlement. Court addressed the challenge of late-stage compounding requests and lack of explicit guidance in Section 147 NI Act regarding timing and procedure for compounding. Criminal revision case disposed of per compromise terms, effectively nullifying earlier conviction and sentence. Decision emphasized courts' discretionary power to permit compounding when serving interests of justice, even post-conviction.
HC exercised inherent powers to allow compounding of offense under Section 138 of Negotiable Instruments Act based on compromise between parties, despite conviction being upheld at appellate stage. While acknowledging that inherent powers must be used sparingly, HC determined intervention was justified to prevent miscarriage of justice and honor parties' settlement. Court addressed the challenge of late-stage compounding requests and lack of explicit guidance in Section 147 NI Act regarding timing and procedure for compounding. Criminal revision case disposed of per compromise terms, effectively nullifying earlier conviction and sentence. Decision emphasized courts' discretionary power to permit compounding when serving interests of justice, even post-conviction.
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